In this title, “Fund” means the Maryland State Appalachian Housing Fund.

There is a Maryland State Appalachian Housing Fund.

The Department shall use the Fund to fulfill its obligations under any contract or agreement with the Appalachian Regional Commission.

The Fund is a continuing, nonlapsing special fund that is not subject to § 7-302 of the State Finance and Procurement Article.

The Fund consists of: receipts of the Department from the Appalachian Regional Commission; investment earnings of the Fund; and repayments of site development advances or loan principal or payments of loan interest made under this title.

The State Treasurer shall invest money in the Fund in the same way as other State money.